Trade setup for Sept 26: NIFTY50 faces selling pressure, will it bounce back on Friday?

NIFTY50

Max call OI:25,000

Max put OI:25,000

(Ten strikes to the ATM, 30 Sep expiry)

The NIFTY50 index closed in the red for the fifth consecutive session after the index continued to face heavy selling pressure. The index is expected to remain under pressure on Friday due to weak global cues, as President Trump announced 100% tariffs on the Pharmaceutical exports to the US.

On the technical charts, the index broke the crucial support level of 25,000, indicating weakness in the sentiment. According to the experts, the swing low trendline remains the next best support for the index at 24,500.

On the options data front, the 25,000 calls and puts for the 30th September expiry hold the highest open interest, indicating indecisiveness by the options traders on the direction of the NIFTY50.

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Long buildup: -

Short buildup: - PowerGrid, Shriram Finance, NTPC

Top traded futures contracts: HDFC Bank, ICICI Bank

Top traded options contracts: SBIN 870 CE, TCS 3000 CE

F&O securities under ban: RBL Bank, Sammancap

F&O securities out of the ban:

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